On June 14, 2022, the City of Loveland was notified by the Economic Development Administration (EDA), that its application for funding through the FY 2021 American Rescue Plan (ARP) Act Economic Adjustment Assistance program was not approved for funding.
The city submitted a funding request in the fall of 2021 for $3,146,143 to be utilized for the Downtown Parking Facility project. The application, which was submitted to the Chicago Regional Office of the EDA, included grant funding of $1,150,000 in state and federal funding already secured by the city towards the $6,292,627 total project cost.
In the funding notification, it was noted that “Of the $3 billion the ARP Act appropriated for EDA, the Chicago Regional Office’s regional allocation for its 6 states was $82.7 million for competitive Economic Adjustment Assistance projects. The Chicago Regional Office has received a high volume of applications for these extremely competitive programs.”
Mayor, Kathy Bailey would like to “thank the state and federal legislators who offered their support of the project and the city’s application.” City Manager, David Kennedy, saluted the many members of city staff who worked on the grant application, as it truly was a group effort. Kennedy added that he will work with City Council and the Finance Commission to determine how best to proceed with the project.